KPMG and AccessFintech have partnered to support large financial institutions with transforming their operations digitally.
The collaboration will see an integration of AccessFintech’s Synergy Network into KPMG’s Connected Operations Transformation proposition – which helps clients improve their digital operating models, unlock data insights and accelerate operational transformation.
AccessFintech serves as an important component of KPMG’s offering, allowing clients to modernise their data and operations management through the connection to AccessFintech’s Synergy Network. The network allows users to meet regulatory requirements more efficiently, strengthen operational resilience and reduce costs.
The Synergy Network from AccessFintech collects and normalises data while facilitating a customisable but standard operations management workflow, enabling operations transformation across the whole transaction lifecycle and enhancing insight benchmarking across the financial ecosystem.
In addition, users of the network will be able to access improved data transparency, enabling middle- and back-office teams to focus on high priority risks remediation.
“Financial institutions are increasingly seeking to transform and streamline their processes and operations in the face of a challenging economic and regulatory environment,” said Feargal De Burca, partner at KMPG UK.
“Our partnership with AccessFintech will build on our efforts to help our clients bridge the gap between their legacy and modern technology systems as well as improve team collaboration, data management, and operational resilience.”
In a similar move, AccessFintech developed a strategic alliance with Deloitte in December last year, with the aim to help financial institutions implement digital transformation.
The alliance drew on Deloitte’s financial services industry consulting and advisory services and AccessFintech’s data management and workflow solution to help overcome challenges presented by legacy IT infrastructure, fragmented data and manual processes, while also helping firms to address regulatory obligations and strengthen operational resilience.
“As a trusted adviser to leading financial institutions worldwide, KPMG deeply understands the challenges those organisations are dealing with in an ever-changing landscape,” added Matt Digby, VP business development at AccessFintech.
“We are excited to work with KPMG to support the efficient and seamless implementation of Synergy Network within a broad range of firms seeking to digitally transform their operations while reducing cost and risk.”